SESSION 16
Friday, February 23, 2024
7:00am
Moderator:
Erik Nuveen, MD, DMD, FAACS
Co-Moderator
Alberico Sessa, MD, FAACS
Summary:
The consolidation of medicine has continued exponential growth over the past 25 years. Physicians with established practices in desirable communities seek to partner with business partners to decrease administrative responsibilities, centralize human resources, reduce procurement costs through group purchasing, and elevate revenue production through well-established business practices. 74% of all physician graduates are currently entering employment positions with private equity-backed consolidations or hospitals.
Over the last two years, this systematic paradigm shift has rapidly accelerated within plastic and cosmetic surgery. It has enabled physicians to focus on patient care and realize true value within their practices. The ultimate goal is a partnership of like-minded surgeons, elevating patient care and improving outcomes.
Our esteemed panel of experts brings the highest level of exposure and experience to the discussion of corporatized medicine. Representing sell-side, buy-side, brokers, merger and acquisition law, and preparation for wealth transfer to minimize taxation, this caliber of experts may be unparalleled at any meeting. We hope their presentations invite interest and questions that often lead to decades-long relationships.
Session Details:
Welcome and Introduction to Consolidation and Exit Strategy
Erik J. Nuveen, MD, DMD, FAACS
Alberico Sessa, MD, FAACS
How Private Equity Funds Growth and Achieves Successful Consolidation
Brad Corbin, MBA
Options For Practice Owners To Maximize Value
Matt Bodenstedt, MBA
The Legal Aspect of Consolidation and Partnerships Through Mergers and Acquisitions
Justin Aiello, JD
Preparation for Exit Funding, Proper Allocation of Assets, Fund for Investment
David Mandell, JD, MBA
How to Structure Income and Capital for Ideal Tax Planning
Sean Scope, MA
Panel discussion Q&A
Video Highlight
In this video, Dr. Alberico Sessa describes this session, which offers important steps and physicians can take now to ensure their practice is ready for growth and transition in the future
I am 66 yo and hoping to practice for 10 years more. Is this applicable to my exit strategy or is this geared toward a young surgeon in their 50’s.
Good day, Kirk. Thank you for your question. I have had the opportunity to meet with more than 20 practice owners and this question is a perfect one. Like the perfect surgery patient, there is no perfect practice! Every single one of them has weaknesses, imperfections and strengths.
The ideal practice is one where a physician has multiple associates or partners. This reduces key operator dependency, a potential weakness to acquisition. The diversity of the practice can be a strength, but not always. More service lines of revenue, on its face, seems ideal, but if it reduces time in high revenue procedures, it could be a distraction.
The simple answer is: it depends on the situation. Ideally we want physicians who are realistically capable of performing surgery, supervising and maintaining stability for a minimum of 5 years duration. But in other cases, we have an immediate option for transition to another physician who can and wants to relocate to a new and thriving practice.